How to Start Gambling with Crypto Online: Beginner's Guide

Cryptocurrency gambling is becoming more popular as players discover the advantages of using digital currencies like Bitcoin and Ethereum at online casinos. But how to gamble with cryptocurrency, and what makes it different from traditional gambling?

Cryptocurrency gambling sites lets you use decentralized digital assets to bet on games like slots, poker, and sports events. Crypto casinos, unlike traditional ones that use regular money, offer more privacy, faster transactions, and often lower fees thanks to blockchain technology.

So, why gamble with cryptocurrency? The key advantages are:

1. Security,
2. Privacy,
3. And control over your funds.

This guide will show you how to start gambling with cryptocurrency, from setting up a wallet to gambling responsibly.

How to Set Up a Crypto Wallet for Gambling Online

Before you can start gambling with cryptocurrency, you’ll need to set up a crypto wallet that supports wallet connect—a digital tool that stores your cryptocurrencies securely. Think of it as your digital bank account, where you hold funds and manage transactions. Whether you’re betting with Bitcoin, Ethereum, or another cryptocurrency, a wallet is essential to keep your digital assets safe. Few crypto wallets recommendations that support wallet connect include:

• Trust Wallet
• MetaMask
• Gem Wallet
• Bitget Wallet

Why You Need a Crypto Wallet for Online Gambling

When you gamble with cryptocurrency, security is crucial. Crypto wallets provide two key types of security: private keys and public keys. The private key is like a password that only you have access to, while the public key is what others use to send you cryptocurrency. Your private key should never be shared; it’s your access to your funds.

There are two main types of wallets: hardware wallets and software wallets.

• Hardware wallets are physical devices that store your private keys offline, making them immune to hacking (e.g., Ledger, Trezor).

• Software wallets are apps or browser extensions that store your crypto online (e.g., MetaMask, Trust Wallet). While they offer convenience, they require extra layers of security, like two-factor authentication, to ensure your funds are safe.

Step-by-Step Guide to Setting Up a Crypto Wallet

1. Choose the right type of wallet: If you plan to gamble frequently, a software wallet may be more convenient. However, for larger amounts, a hardware wallet is more secure.

2. Download the wallet app to your phone or computer: For software wallets, download the app from official sources like the Google Play Store or the Apple App Store. For hardware wallets, purchase directly from trusted manufacturers.

3. Set up and secure your wallet: Create a strong password and enable two-factor authentication. Write down your recovery phrase and store it in a secure, offline location.

4. Fund your wallet: Once your wallet is set up, you can buy cryptocurrency on exchanges like Binance or Coinbase and transfer it to your wallet.

A properly secured wallet ensures that you can gamble with cryptocurrency safely, without worrying about theft or unauthorized access. In the next section, we’ll discuss how to purchase cryptocurrency for your gambling adventures.

Best Cryptocurrencies for Gambling

When choosing a cryptocurrency for gambling, you’ll encounter several options. Not every crypto is ideal for betting, and some have unique advantages or limitations. The key is selecting a cryptocurrency that balances reliability, transaction speed, and stability. Below are some of the popular cryptocurrencies used for gambling and their strengths.

Bitcoin (BTC)

Bitcoin is the oldest and most widely recognized crypto in bitcoin casinos and other crypto casinos. Many online casinos accept it due to its popularity and proven track record. One of the primary reasons Bitcoin is preferred for gambling is its large user base, which brings reliability and accessibility.

However, Bitcoin gambling volatility can be both a benefit and a risk. Its price can rise or fall sharply over a short period. If you plan to gamble with Bitcoin, consider this volatility and be aware that your balance's value may change drastically before you even finish a gaming session. The best approach is to use Bitcoin if you're already familiar with it as an investment, making price fluctuations less surprising.

Ethereum (ETH)

Ethereum is another top choice for crypto gamblers, offering fast transactions and widespread acceptance across crypto casinos. Its smart contract capabilities also support decentralized gambling applications, where the results are entirely managed by blockchain technology.

One downside to Ethereum is the gas fees—transaction costs that can spike during periods of high network activity. These fees can cut into your betting budget when depositing or withdrawing funds. While Ethereum remains highly popular, it might be more costly to move around compared to other options, especially when fees are high.

Litecoin (LTC)

For those looking to avoid high fees and lengthy transaction times, Litecoin presents a more affordable alternative. It’s often referred to as "Bitcoin’s little brother" due to its similar structure but faster processing times and lower fees. Litecoin is also accepted on many major gambling platforms, making it a convenient choice for those who want quicker transactions without compromising security.

XRP (Ripple)

XRP (Ripple) is designed for fast and low-cost cross-border payments, making it a solid option for gamblers who prioritize speed. One of the key benefits of XRP is its near-instant transactions and minimal transaction fees. This is ideal for those who want to minimize the cost of moving funds in and out of their betting accounts.

However, XRP has faced regulatory scrutiny in various countries, so be aware of potential legal concerns depending on your location.

Dogecoin (DOGE)

Originally created as a joke, Dogecoin has gained significant popularity, especially among crypto enthusiasts and gamblers looking for a lighthearted option. While Dogecoin may not offer the same level of transaction security as Bitcoin or Ethereum, it’s widely accepted by crypto casinos and has low transaction fees, making it an appealing option for casual bettors.

Stablecoins (USDT, USDC)

For players who want to avoid the volatility associated with cryptocurrencies like Bitcoin or Ethereum, stablecoins like USDT (Tether) or USDC (USD Coin) provide a more stable value. These coins are pegged to fiat currencies like the U.S. dollar, meaning their value remains constant, making them ideal for those who want to gamble without worrying about drastic price changes.

Using stablecoins also allows for quicker transactions, and many casinos support them alongside other major cryptocurrencies.

How to Buy Crypto for Gambling

Now that you have your crypto wallet set up, the next step is to fund it by purchasing cryptocurrency. Whether you’re looking to gamble with Bitcoin, Ethereum, or another coin, the process is relatively straightforward.

Buying Cryptocurrency for Gambling: A Beginner’s Guide

The most common way to buy cryptocurrency is through a reputable crypto exchange. Popular exchanges like Coinbase, Binance, and Kraken offer an easy way to purchase coins using your local currency (USD, EUR, etc.). Here's how you can get started:

1. Create an Account on a Trusted Exchange: Sign up on an exchange that supports the cryptocurrency you want to use for gambling. Make sure the platform is well-known for its security and ease of use.

2. Verify Your Identity: Most exchanges require some form of identification verification, especially if you're using fiat money to buy crypto. This is to comply with regulations like KYC (Know Your Customer) laws.

3. Deposit Funds: Once your account is set up, deposit funds into the exchange. You can usually do this via bank transfer, credit card, or other payment methods.

4. Purchase Your Cryptocurrency: Select the cryptocurrency you want to gamble with—whether it's Bitcoin, Ethereum, or another popular coin. Consider the transaction fees and speed, as these factors can impact your gambling experience.

Choosing the Best Crypto Casinos

Now that you have your cryptocurrency, the next step is selecting a reliable crypto casino. With countless platforms available, it’s essential to know how to choose one that is secure, reputable, and offers the features you’re looking for.

What to Look for in a Crypto Casino

Not all crypto casinos are created equal, so here are some critical factors to consider before placing your bets:

1. Licensing and Regulation: Ensure the crypto casino is licensed by a reputable authority like Malta, Curacao, or the UK. Licensing guarantees the casino follows fair play and player protection standards.

2. Provably Fair Games: Look for casinos offering provably fair games—these allow players to verify the fairness of each game using blockchain, ensuring results are not manipulated.

3. Game Variety: Choose a casino with a wide range of games: slots, table games (poker, blackjack, roulette), and live dealer options. Some casinos may also offer sports betting and unique blockchain games.

4. Bonuses and Promotions: Look for bonuses like Bitcoin bonuses, free spins, and deposit matches. However, read the terms carefully—some bonuses have high wagering requirements that make it hard to withdraw winnings.

5. Payment Speed and Fees: Check that the casino supports fast deposits and withdrawals. While Bitcoin is slower, casinos that accept Ethereum or Litecoin often provide quicker transactions. Also, review the transaction fees.

6. Customer Support: Choose a casino with 24/7 customer support through live chat or email. This ensures you can get help quickly if you encounter issues.

By focusing on these criteria, you'll find a crypto casino that's secure, fair, and fits your needs.

How to Deposit Crypto in Online Casinos

Once you’ve chosen a crypto casino, the next step is depositing your cryptocurrency and getting ready to play. While the process might seem a bit technical at first, it’s relatively simple, and most platforms such as Rollspace, have streamlined their processes to make deposits quick and secure.

Step-by-Step Guide to Depositing Crypto

Assuming your wallet is already connected, and you have some BNB, here’s how you can deposit it into your gaming wallet to start playing games:

1. Click on the empty BNB balance, to access your “Gaming Wallet”.
2. Enter BNB amount you want to deposit into the gaming wallet and hit Deposit.
3. The minimum deposit is 0.01 BNB.

Within seconds, your deposited funds will show up in your Rollspace gaming wallet and you’re ready to play and earn with games. You can also withdraw your funds anytime you want. By following these steps, you’ll be ready to start gambling with cryptocurrency quickly and securely. Have ETH instead? Checkout this step-by-step video guide on how to deposit ETH on Youtube.

How to Start Gambling with Crypto

With your funds successfully deposited, you're ready to start gambling with cryptocurrency. The games available in crypto casinos are much like those in traditional online casinos, but the integration of digital currency offers some added benefits—especially in terms of privacy, speed, and security. Essentially crypto gambling is the same as normal gambling, but with cryptocurrency.

Here are 3 easy steps to start gambling with crypto on Rollspace:

1. Select any game of your choice in our games collection.
2. Connect a crypto wallet like Trust Wallet or MetaMask.
3. Deposit crypto (ETH or BNB) and start playing.

Best Games for Crypto Gambling Beginners

If you’re new to cryptocurrency gambling, it’s a good idea to start with games that have straightforward rules and manageable stakes. Here are a few ideal options for beginners:

1. Slots

Crypto slots are among the easiest games to play. They require no complex strategy, and you can start with low bets while you get familiar with the casino’s interface. Many crypto casinos offer thousands of slot titles, including classic, video, and progressive jackpot slots.

2. Table Games

For those looking for more skill-based options, table games like blackjack, poker, and roulette are available in most crypto casinos. These games typically allow a range of betting options, making them beginner-friendly while still providing room for strategy.

3. Live Dealer Games

Many crypto casinos now offer live dealer games, which provide a more immersive experience. With real dealers streaming in real-time, you can play games like baccarat, blackjack, or Texas Hold’em. Live dealer games combine the convenience of online gambling with the authenticity of a land-based casino.

4. Provably Fair Games

One of the unique features of crypto casinos is the availability of provably fair games, which allow you to verify the fairness of each round. These games use blockchain technology to ensure that the outcomes are genuinely random and free from tampering.

Best Crypto Gambling Competitive Games To Try

Rollspace offers gambling casino games where you can have fun playing and earn crypto like Ethereum (ETH) on Blast L2. Here’s a look at what you can try:

1. YOLO: Make high-risk, high-reward entry amounts. You only live once, so take a chance! The more your entry amount, the higher your chances of beating your opponents and earning their stake.
2. Coin Flip: Predict the outcome of a coin toss by guessing "Gold" or "Silver."
3. Crash: Compete against other players by guessing when the rocket will crash. If your guess is correct, you earn ETH.
4. Dice: Predict the outcome of a six-sided dice roll. Each side shows a different number of dots, from one to six.

Tips to Start Gambling with Crypto

Gambling with cryptocurrency involves additional considerations compared to traditional betting. To ensure a smooth experience, keep these key tips in mind:

1. Check Fees and Conversion Rates: Each crypto casino has different fees for transactions and currency conversion. Always review these before depositing or withdrawing, as choosing the right platform can save you significantly over time.

2. Monitor Crypto Price Fluctuations: Cryptocurrencies like Bitcoin and Ethereum are highly volatile. Be aware of price changes before and after placing a bet, as these shifts can impact your payout, especially if the value drops during your session.

3. KYC and Licensing Concerns: Many crypto platforms offer anonymity by minimizing Know Your Customer (KYC) requirements. While this is appealing, make sure the casino is still properly licensed to ensure fairness and player protection.

4. Choose the Right Crypto: When gambling, it’s best to use a cryptocurrency you plan to hold for a while. This helps you avoid stress over daily price fluctuations and focus on the actual gambling rather than the currency’s market value.

5. Bet on Games, Not Coin Movements: While crypto gains in value can boost your winnings, this should not be part of your strategy. Avoid relying on market movements to enhance your bets—it’s more sustainable to focus on gameplay rather than speculation.

By following these tips, you can navigate the complexities of crypto gambling and enjoy a seamless experience, just like with traditional currencies.